Eldorado Gold (NYSE:EGO) Releases Earnings Results, Beats Estimates By $0.02 EPS

Eldorado Gold (NYSE:EGO) (TSE:ELD) issued its earnings results on Thursday. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02, Zacks reports. Eldorado Gold had a return on equity of 6.75% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same period in the previous year, the company earned $0.17 earnings per share.

Eldorado Gold Trading Down 5.9 %

NYSE EGO opened at $16.34 on Friday. The firm has a market capitalization of $3.35 billion, a P/E ratio of 12.19 and a beta of 0.95. The business has a fifty day simple moving average of $17.42 and a 200 day simple moving average of $16.33. Eldorado Gold has a 12 month low of $9.72 and a 12 month high of $19.06. The company has a current ratio of 3.62, a quick ratio of 2.65 and a debt-to-equity ratio of 0.20.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EGO shares. CIBC upped their target price on Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank upped their target price on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Finally, Royal Bank of Canada upped their target price on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $19.38.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.